Avantiico's Multi-Company Accounting Automation Solution

Avantiico’s Multi-Company Accounting Automation solution is tailor-made for organizations with multiple legal entities or companies. This powerful add-on to Dynamics 365 Finance is an invaluable tool for organizations participating in frequent acquisitions or whose growth regularly involves the creation of multiple entities.

Our advanced multi-company accounting software offers a streamlined and automated approach to the accounting process. With the ability to quickly create new companies and easily post journals across multiple entities, our software eliminates the need for extensive manual data entry, thus saving valuable accounting hours. By reducing workload, our multi-company solution facilitates a faster month-end close and provides more accurate financial reporting. With our comprehensive automation features, you can enjoy an efficient and effective accounting system that maximizes productivity and accuracy.

Overcome the following multi-entity accounting pain points with Avantiico’s Multi-Company Accounting Automation solution:

Lack of visibility and control: Gain a clear and comprehensive view of your financial data and operations across all entities and enable confident data-driven decision-making.
Manual and time-consuming processes: Manage financial operations across multiple companies with minimal manual labor by automating repetitive tasks, such as data entry, journal posting, and new company creation.
Compliance and regulatory issues: Simplify managing financial operations across multiple entities and ensure compliance with local tax regulations, accounting standards, and reporting requirements.
Difficulties in consolidating financial data: Streamline the consolidation of financial data across your companies to get a complete picture of overall financial performance while ensuring accurate reporting and data analysis.
Costly and inefficient systems: Reduce inefficiencies, redundancies, and costs by utilizing Avantiico’s Multi-Company Accounting Automation solution to upgrade and replace disparate systems.
Issues with third-party integration: Easily integrate payroll and expenses by integrating third-party software. Examples include but are not limited to - Bamboo, ADP, Concur, and Ceridian.

Addressing the above pain points, Avantiico’s Multi-Company Automation software makes large-scale accounting operations efficient, saving keystrokes, time, and money.

4 Productivity Benefits of Multi Company Solution

Multi-Company Accounting:
Streamlined Accounting Processes

Avantiico’s Multi-Company Accounting solution is designed to streamline intercompany accounting processes and make even your most complicated multi-entity financial operations more efficient. With our solution, you can easily post journals to multiple companies and rapidly create new legal entities. Built as an add-on to D365 finance, it ensures that all transactions are accurately recorded in real time.

With comprehensive reporting capabilities, our Multi-Company Accounting solution can help you quickly combine AMCS and Financial Reporting in D365 to generate consolidated financial statements across multiple legal entities. This feature significantly reduces both the manual workload and the risk of errors or discrepancies. Additionally, our solution provides granular access controls, ensuring only authorized users can access sensitive financial data. With Avantiico’s Multi-Comany Accounting solution, you can rest assured that your intercompany transactions are simplified, secure, and accurate.

Multi-Company Accounting:
Journals & Productivity

With Avantiico’s Multi-Company Accounting Automation software, you can validate and post journals for multiple legal entities or companies within a single Dynamics 365 Finance journal. Whereas in standard D365, journal entries must be posted separately for every company or entity, our solution allows you to post across 5, 25, 50, or even 500+ legal entities simultaneously from within a single D365 journal.

The solution minimizes the number of keystrokes and operational steps the user must execute to process journals for multiple companies. Therefore, the solution saves accounting teams considerable time and cost. Additionally, the risk of human error and data corruption is reduced. The possibility of posting journal data to the wrong company is heavily mitigated by the built-in journal validation tools in Avantiico’s solution.

Accounting automation capabilities for Multi-Company journals are available for most journals, such as:

Multi-Company Accounting:
Reporting and Inquiring

Avantiico’s Multi-Company Accounting Automation solution for Dynamics 365 Finance offers the advantage of simultaneous reporting and inquiring across multiple legal entities or companies within a single company. This feature overcomes the limitation of the standard Dynamics 365 Finance application, which requires running individual financial reports and inquiries for each relevant company. With Avantiico’s solution, a single “master” activity generates reports and inquiries for all selected legal entities at once while still delivering output at the company level.

For instance, if your business oversees the financial management of 250 companies, the standard approach requires changing the legal entity in Dynamics 365 Finance 250 times and running individual reports or inquiries within each entity. However, with Avantiico’s software solution, 250 reports or inquiries can be consolidated into a single operation. This applies to all types of reports and inquiries, including 1099 tax reports.

Avantiico’s Multi-Company Accounting solution enables the easy definition of operational hierarchies between bookkeepers, accountants, and the companies they manage. In addition, company type and reporting segregation can be determined with ease.

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Multi-Company Accounting:
Rapid New Legal Entity Creation

Is your accounting team frequently creating new legal entities?

Manually setting up new companies in D365 Finance can be an arduous process that wastes time and resources better allocated to more strategic work. Avantiico’s Multi-Company Accounting Automation solution simplifies the process and reduces manual workloads. In addition, the rapid new legal entity creation feature allows you to automate and expedite the creation of basic Dynamics 365 Finance legal entities through an Excel import.

The Dynamics 365 company copy tool works for any company or legal entity in Dynamics 365 that already has company information, a chart of accounts, calendars, and currency already defined in an Excel spreadsheet. In standard Dynamics 365 Finance, legal entity record and ledger setup must be created manually for each legal entity. The Avantiico Multi-Entity Accounting solution creates these automatically during the Excel upload. This saves countless hours and reduces the possibility of errors by standardizing the process.